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Dec 3, 2012
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cliff deal or we go over the deadline and get a huge fiscal cliff-induced selloff. i thinks these stocks bounce hard, and smoke first, when the smoke clears from the cliff jump. let's go to logan in texas. >> caller: my question is, there's been a lot of talk about 3-d printers and 3-d systems and stratus, and i'm curious what you think of the industry, and stratus has had a merger today, and they had a big selloff. what do you see specifically with their future. >> ted, my research assistant and i have been going over this. we decided we have to do a full-blown piece on it. it comes up too much and it sounds too interesting. we talked about it this morning. are you listening in my office? i felt it was not right until i had done more work on this. to really say it was good or not. it's not an easy story to know. let's go to phillip in arizona, phillip? >> caller: hi, jim, greetings from sunny, tucson, arizona, thank you for having me on the show and for all the great books you've written, i've read almost all of them. the stock i have for you is cbg, convergeis, th
cliff deal or we go over the deadline and get a huge fiscal cliff-induced selloff. i thinks these stocks bounce hard, and smoke first, when the smoke clears from the cliff jump. let's go to logan in texas. >> caller: my question is, there's been a lot of talk about 3-d printers and 3-d systems and stratus, and i'm curious what you think of the industry, and stratus has had a merger today, and they had a big selloff. what do you see specifically with their future. >> ted, my research...
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Dec 4, 2012
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possible deal to bridge the fiscal cliff in washington. but through the period these ten growth stocks have held up surprisingly well. i say surprising, because these stocks all had huge gains going into the fourth quarter. and with the fiscal cliff looming, many investors have been selling their biggest winners to take advantage of the current low capital gains tax rates that will likely go away come january. if we get a positive resolution caught to the fiscal cliff, you'll want to buy these stocks hand over fist. because then they'll really be able to roar. how have the anointed names done? >> amazon started at 259, pulled back to 220 before rebounding to 250, where it is right now. google has been pounded. it went from over 760 to below 660, but it's rebounded to 695. mastercard and visa, they took 25-point dives. i told to you buy them into weakness. falling from 475 to 450, and rallied to 487. these are great ones to buy now. a dozen points where above where i recommended. that's a win. visa has moved up nicely from 136 to 149. ulta
possible deal to bridge the fiscal cliff in washington. but through the period these ten growth stocks have held up surprisingly well. i say surprising, because these stocks all had huge gains going into the fourth quarter. and with the fiscal cliff looming, many investors have been selling their biggest winners to take advantage of the current low capital gains tax rates that will likely go away come january. if we get a positive resolution caught to the fiscal cliff, you'll want to buy these...
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Nov 29, 2012
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but whatever you call it, politico's front page headline reads, fiscal cliff deal emerging. it hashes out the flame woframe agreement including $400 billion in cuts to entitlements. but how close are they really? depends on who you ask. >> what's going on between the decision makers is little to nothing. >> you can actually now see what the contours of the deal look like. >> i'm optimistic that we can continue to work together to overt this crisis and sooner rather than later. >> we will not negotiate the end of medicare. i don't know what it is with these republicans. >> it's safer if you're on the progressive end of the political spectrum to go over the fiscal cliff than it is to agree to some of the things they're talking about. >> ruth, where do you stand, deal or no deal? >> not who deal, but who are more pessimistic. the clock is really ticking. about ten legislative days left in the year. outlines are there but the willingness to do it and the ability to get it done in time, i'm more disappointed than i thought i would be at this point. on the other hand, this is the
but whatever you call it, politico's front page headline reads, fiscal cliff deal emerging. it hashes out the flame woframe agreement including $400 billion in cuts to entitlements. but how close are they really? depends on who you ask. >> what's going on between the decision makers is little to nothing. >> you can actually now see what the contours of the deal look like. >> i'm optimistic that we can continue to work together to overt this crisis and sooner rather than later....
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Dec 5, 2012
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a coalition of the nation's top c.e.o.s is feeling pessimistic about getting a fiscal cliff deal.
a coalition of the nation's top c.e.o.s is feeling pessimistic about getting a fiscal cliff deal.
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cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an extension of middle class tax cuts now. democrats say their position is clear and they want a serious offer from republicans. >> the american people want us to avoid the "fiscal cliff" with a balanced approach. >> reporter: geithner is here in the halls of congress trying to clear some big hurdles with republicans. once a deal is closer president obama will take over the talks. so far independent senator joe lieberman is not encouraged. >> if we go over the cliff it's going to send the country back into recession. >> reporter:
cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an...
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. >> john: another weekend no, deal on the fiscal cliff. how close one is depends on whom you believe. this is "special report." ♪ ♪ >> john: good evening. i'm john roberts in for bret baier this evening. deadlock, gridlock, stalemate, whatever you call it. most people in washington seem to think we are there. we have just four more weekends to go before america goes over the most talked about piece ovate i of real estn the world, the fiscal cliff. ed henry tells us not everyone is pessimistic. >> reporter: literally snapping his fingers, vice president joe biden today suggested it will be easy to finish a deal with congress to avoid the fiscal cliff. >> it would take 15 minutes from the time the decision is made by the speaker of the house to pass and make permanent middle class tax cut. the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. it is not complicated. >> greg: speaker bane -- >> reporter: speaker john boehner not so optimistic. >> this is not a progress
. >> john: another weekend no, deal on the fiscal cliff. how close one is depends on whom you believe. this is "special report." ♪ ♪ >> john: good evening. i'm john roberts in for bret baier this evening. deadlock, gridlock, stalemate, whatever you call it. most people in washington seem to think we are there. we have just four more weekends to go before america goes over the most talked about piece ovate i of real estn the world, the fiscal cliff. ed henry tells us...
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. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this is almost unheard of. what do they expect? they obviously expect they will cave on everything. i think they ought to simply walk away. the president is the president. he is the leader. they are remanning republicans explain all of the cuts they want to mac. we had that movie a year and a half ago where paul ryan presented a budget a serious real budget with real cuts, obama was supposed to give a speech in which he would respond with a counteroffer. he gave a speech we had ryan sitting in the front row. he called the ryan proposal unamerican offered not
. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with...
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speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the promise of spending cuts has to be included in the deal that overts a fiscal cliff. >> there is a framework that we presented to the white house two weeks ago. the framework has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of balance. and not recognition on the part of the white house about the serious spending problem that we have. >> based on the procespect of going over the fiscal cliff which you just called serious bus
speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the...
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take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan. serious cuts and revenue increases. you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close loopholes and raise revenue. >> all right. thanks to both. appreciate it. more than two months after the deadly a
take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan....
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remish, you have written about the pessimistic view on the fiscal cliff negotiations. why don't you think a deal gets done? >> well, i just think the parties are too far apart. if president obama wants republicans to agree not only to allow the top tax rates to go up, but also put a new millionaire surtax, new stimulus funding, there's no way republicans do that without many entitlement reform. i think the democrats are prepared to allow, and that's why i just think that i agree with the congressman. i think that we are likely not to get a deal before the beginning of the year. >> but do you think it was a senator lindsey graham indicated there at the beginning, do you think it was a political calculation or is a political calculation on the part of the white house? >> well, i think there are political calculations being made by everybody in washington right now, but i don't think it's a secret that the democrats believe, in a lot of cases, that they have the upper hand in the p.r. war over this issue. >> perry, this is grover norquist just a few hours ago on "meet the
remish, you have written about the pessimistic view on the fiscal cliff negotiations. why don't you think a deal gets done? >> well, i just think the parties are too far apart. if president obama wants republicans to agree not only to allow the top tax rates to go up, but also put a new millionaire surtax, new stimulus funding, there's no way republicans do that without many entitlement reform. i think the democrats are prepared to allow, and that's why i just think that i agree with the...
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any deal to avoid the fiscal cliff is up to president obama and house of representatives spear boehner but never is very optimistic. the latest on the negotiations which will affect us all is next. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. >>shepard: we have signs of improvement in the job markets with millions still out of the work. the national unemployment rate fell from 7.9 percent to 7.7 percent last month. that is the lowest rate in four years. it comes despite the loss linked to super storm sandy. but the government reports the unemployment rate fell largely because so many americans gave up their search. at the same time, the u.s. economy added 146,000 jobs in november above what the analysts predicted. well above. and gerri, where do we see the biggest gain? >>gerri: in retail. no surprise for holiday season. we expect add big impact from the fiscal cliff and the labor department said no, we did not b
any deal to avoid the fiscal cliff is up to president obama and house of representatives spear boehner but never is very optimistic. the latest on the negotiations which will affect us all is next. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. >>shepard: we have signs of improvement in the job markets with millions...
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Nov 29, 2012
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cliff deal. peter barnes live on capitol hill has been monitoring the secretary's movements. peter: he just had a meeting a little bit ago with john boehner and this follows a 15 minute phone call john boehner had with president obama last night so john boehner came out to give us a report on this and he said in his view there has been, quote, no substantive progress in talks to avert a fiscal cliff in the last two weeks. take a listen. >> this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. campaign style rallies and that is not a way to get things done in washington. peter: republicans want to hear concrete solid major proposals from the white house on spending cuts and entitlement reform. right now tim geithner is meeting with senate republican leader mitch mccoll was a key player in this, meeting at 1:00 or so with house democrattc leader nancy pelosi in the earlier first this morning with senate democratic leader harry reid.
cliff deal. peter barnes live on capitol hill has been monitoring the secretary's movements. peter: he just had a meeting a little bit ago with john boehner and this follows a 15 minute phone call john boehner had with president obama last night so john boehner came out to give us a report on this and he said in his view there has been, quote, no substantive progress in talks to avert a fiscal cliff in the last two weeks. take a listen. >> this is not a game. jobs are on the line. the...
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but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him. >> reporter: visiting their nation's capitol today, mixed expectations from tourists from georgia and texas >> i hope they get it, more than i did before the election. >> of course i'm nervous, you never know what politicians are going to do. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they
but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him....
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and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're paying now but less than $39.6. is that possibly what both sides are angling to? >> you use the word vile and i'll echo that word. i think going over the cliff is a sdasster. i think social leaders negotiate the best deal they possibly can, and let's try and get this done. i would not be for playing a game of chicken, if you will, or trying to fool the american people who are pretty dad gum smart when it comes to these sorts of things. >> do you fear the right wing of your own party, a wing that says any revenue, as you heard jim demint say, no revenue, not part of the deal. do you think that's going
and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're...
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wall street initially fell after house speaker boehner said there'd been no progress on a fiscal cliff deal. but stocks rose later, on news that the economy grew at an annual rate of 2.7% in the third quarter. the dow jones industrial average gained more than 36 points to close well above 13,021. the nasdaq rose 20 points to close at 3,012. the united nations general assembly voted today to recognize palestine as a non- member observer state. the tally was 138 to nine, with 41 abstentions. the u.s. voted no. it came after palestinian president mahmoud abbas appealed to the world body to issue the birth certificate of palestine. >> we did not come here seeking to delegitimize a state established years ago, and that is israel. rather, we came to affirm the legitimacy of a state that must now achieve its independence, and this is palestine. >> sreenivasan: palestinians said the vote would strengthen their hand in future peace talks with israel. but the israeli ambassador to the u.n., ron prosor, warned that the palestinians are turning their backs on peace. >> for as long as president abb
wall street initially fell after house speaker boehner said there'd been no progress on a fiscal cliff deal. but stocks rose later, on news that the economy grew at an annual rate of 2.7% in the third quarter. the dow jones industrial average gained more than 36 points to close well above 13,021. the nasdaq rose 20 points to close at 3,012. the united nations general assembly voted today to recognize palestine as a non- member observer state. the tally was 138 to nine, with 41 abstentions. the...
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how they deal with the fiscal cliff. this could prove to be a very fork in the road. the her teenage foud in yesterd. south carolina senator stkwr*eupl demint who is leading the senate to head up heritage foundation has issues with what john boehner has been doing. it's all about this counter offer to the president on tax increases. the conservative blog red state went after him. freedom works which backs tea party groups and the club for growth is really the big one. they spent $10 million going after republicans who they thought weren't conservative enough in the last election. listen to what they have to say about john boehner now. >> when he couples this conservative purging with a negotiated tax increase of $800 billion we are starting to see more and more signs that he's not dedicated to fiscally conservative beliefs. >> reporter: mr. roth said if he doesn't watch it he can lose his speakership and there are others in the city talking about what they can do to reign in the g.o.p. leadership as a group from raising taxes after republicans spent the last year on t
how they deal with the fiscal cliff. this could prove to be a very fork in the road. the her teenage foud in yesterd. south carolina senator stkwr*eupl demint who is leading the senate to head up heritage foundation has issues with what john boehner has been doing. it's all about this counter offer to the president on tax increases. the conservative blog red state went after him. freedom works which backs tea party groups and the club for growth is really the big one. they spent $10 million...
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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....
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lawmakers are pushing to include the bill in the fiscal cliff deal. jeff flock live in woodstock, ill. with the details. jeff: we talk so much about the fiscal cliff we have forgotten that a farm bill is not getting done either and not only has it not gotten done but the old farm bill expired. a dairy cooperative in michigan, because we don't have a farm bill, what could happen in the next week to month? we ritter back to the old farm bill of 1949. >> we referred to the permanent law 1949 and january 1st which could mean a double crisis for the consumer and double crisis for the producer. >> of a great thing. the government by law would have to pay terms of the 49 law which would double the price of the milk the cows put out. it is crazy. >> it is. definitely. it is not good for anybody, the consumer or the producer. >> take a look at milk prices, trending down lately if we look at them, corn prices have stayed high. you already had enough trouble down on the farm. you can't get this done also with the senate passing a bipartisan farm bill house has p
lawmakers are pushing to include the bill in the fiscal cliff deal. jeff flock live in woodstock, ill. with the details. jeff: we talk so much about the fiscal cliff we have forgotten that a farm bill is not getting done either and not only has it not gotten done but the old farm bill expired. a dairy cooperative in michigan, because we don't have a farm bill, what could happen in the next week to month? we ritter back to the old farm bill of 1949. >> we referred to the permanent law 1949...
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the president sending timothy geithner to capitol hill in hopes of getting the fiscal cliff deal done before everyone's taxes go up. >> consolation lunch? president obama visits mitt romney to the white house today and everyone is buzzing about it. could obama offer him a job? >> congratulations to someone. you just won the gdp of a small nation. not just one but two winning tickets in last night's record powerball drawing. we'll tell you where. >> and if they will be my best friend soon. we have a packed show. john ba, rasso, adam shif, rick warren, tom cole, connie and mary bono mack and steven holcomb. >> we have so many people coming up. it is thursday, november 2. "starting point" begins right now. >>> good morning, everyone. our starting point this morning, developments happening now in cairo. the u.s. embassy there is closed. no one is being allowed in or out as we speak. >> embassy officials say protesters are blocking the entrance and clashes are happening near nearby. reza sayah is nearby for us. what's happening? >> reporter: there is no indication protesters are targeting
the president sending timothy geithner to capitol hill in hopes of getting the fiscal cliff deal done before everyone's taxes go up. >> consolation lunch? president obama visits mitt romney to the white house today and everyone is buzzing about it. could obama offer him a job? >> congratulations to someone. you just won the gdp of a small nation. not just one but two winning tickets in last night's record powerball drawing. we'll tell you where. >> and if they will be my best...
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lori: fiscal cliff is the bottomless abyss. melissa: it is but we'll find out the real deal. lori: more coming up on the fist call cliff. tracy byrnes and ashley webster speak with former senator pete domenici. stay with us on fox business. tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. standoff on the fiscal cliff. both side say the other needs to get serious about making a deal. the question is who will flinch first? tracy: former senator and debt reduction task force co-chair pete domenici is here. stocks twisting and turning on every word out of washington. we'll hear from a top strategist to protect your investments amid all the volatility. ashley: a trillion dollar problem getting enough attention. american student loan debt surging now topping credit cards and auto loans. tracy: we'll. ashley: we'll have you will the very pering numbers ahead. tracy: after all that i said senator domenici's name wrong. nicole petallides is on the floor of new york stock exchange. nicole, stocks trying to hold onto this 50 point gain here. >> we're actually moving
lori: fiscal cliff is the bottomless abyss. melissa: it is but we'll find out the real deal. lori: more coming up on the fist call cliff. tracy byrnes and ashley webster speak with former senator pete domenici. stay with us on fox business. tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. standoff on the fiscal cliff. both side say the other needs to get serious about making a deal. the question is who will flinch first? tracy: former senator and debt reduction task force...
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the reason is investors are holding out, they hope we get a deal on fiscal cliff. they are hopeful the november jobs report coming out at end of the week will be brighter. melissa: there we go negative. lori: stocks swinging between gains and losses today. november jobs report on friday should be the tone seter. the ism report yesterday released was below 50. so it signaled contraction. that was the first time in three months. that was very concerning to investors showing there are a lot of pressures on this economy. melissa: we have breaking news right now that could be good news for the markets and for consumers. just moments ago the los angeles mayor announcing that union and management have agreed to federal mediation, in a bid to end the strike at the ports of los angeles and long beach. that is according to a reuters report. the strike is entering its 8th daa the local clerk union for them fights for jobs they say are being threatened by technology in the future by the way. the protests are causing a near shutdown of the nation's two busiest ports and nearly
the reason is investors are holding out, they hope we get a deal on fiscal cliff. they are hopeful the november jobs report coming out at end of the week will be brighter. melissa: there we go negative. lori: stocks swinging between gains and losses today. november jobs report on friday should be the tone seter. the ism report yesterday released was below 50. so it signaled contraction. that was the first time in three months. that was very concerning to investors showing there are a lot of...
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president obama giving his pitch for the fiscal cliff. when will the rhetoric give way to a real action on our debt crisis. juan williams on when a deal can happen. melissa: how would you like to pay more at the pump? we have the new talk about raising the gas tax. what a great idea. lori: i love paying over four dollars a gallon. washington not the only one that cannot get a deal done. entering day 76. its small business that is really on then ice. melissa: time now for stocks as we do every 15 minutes. lauren simonetti. washington is playing politics over the fiscal cliff. we are near session lows right now. >> 11 points away from session lows. the dow is clinging onto that level right now. consumer discretionary is your best performing sector this month. it is lower today, as is technology. the s&p 500 trying to hang onto a monthly gain. not sure if we can do it. certainly higher for the week and nasdaq higher for the both of them. a two-day chart of yelled is really interesting. they expect fourth-quarter sales in china to decline. lo
president obama giving his pitch for the fiscal cliff. when will the rhetoric give way to a real action on our debt crisis. juan williams on when a deal can happen. melissa: how would you like to pay more at the pump? we have the new talk about raising the gas tax. what a great idea. lori: i love paying over four dollars a gallon. washington not the only one that cannot get a deal done. entering day 76. its small business that is really on then ice. melissa: time now for stocks as we do every...
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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and my only point is, you know, if we had a game, and every time the term fiscal cliff came up people had to donate a dollar to something, you'd be amazed in the course of a week or two how often this has been repeated like a mantra. i compared to a great essay by tom wolf in which people chanted and made noise in order to get their way. i think we ought to recognize this entire fiscal cliff is an artificial invention of washington, created by people in the congress and the presidency, and it can be broken down by them into a series of steps that can be taken without having to be rushed into one gigantic last-minute, little understood, with no hearings, one vote up or down, i think it's a terrible way to govern the united states. >> greta: well, the sequestration deadline is coming up the 1st of january. what people are saying on capitol hill, the president is saying, congress is saying, it may be scary stuff, but if we go over the fiscal cliff that all sorts of things will happen, that there will be another recession, we'll go deeper into our existing one, if we have an existing one,
and my only point is, you know, if we had a game, and every time the term fiscal cliff came up people had to donate a dollar to something, you'd be amazed in the course of a week or two how often this has been repeated like a mantra. i compared to a great essay by tom wolf in which people chanted and made noise in order to get their way. i think we ought to recognize this entire fiscal cliff is an artificial invention of washington, created by people in the congress and the presidency, and it...
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markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate, which was 1.3%. and there's definitely good stuff here. you look deeper in the report, you find out the u.s. exported more than first thought. that's good. because we really need people in other countries to buy our stuff. that helps our economy. home building and strong corporate profits, that also helped our economy. but here's the thing. when you dig deeper in the report, past that headline number of 2.7%, you know, it's not all it's cracked up to be. businesses built up bigger inventories of their products last quarter. that helps the economy now, but the thing is, it means next quarter these busi
markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate,...
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can strike a deal to avoid going over that fiscal cliff. number one tonight, a mechanic in missouri says is he planning a pretty good christmas after he won half of that record power ball jackpot. first on the list. his adopted daughter wants a pony. and that's "the fox report's" top five. an on this day in 1892. a young sing from her gary, indiana made music history with a release of his album "thriller." michael jackson was already a star at the time but "thriller" was a game changer with seven top then hits including billy jean and title track. "thriller" became the best selling album of all time went on to win a record 8 grammy awards sealing his place in history as the king of pop. despite his untimely death at the age of 50. michael jackson's will legacy hs withstood the test of time.
can strike a deal to avoid going over that fiscal cliff. number one tonight, a mechanic in missouri says is he planning a pretty good christmas after he won half of that record power ball jackpot. first on the list. his adopted daughter wants a pony. and that's "the fox report's" top five. an on this day in 1892. a young sing from her gary, indiana made music history with a release of his album "thriller." michael jackson was already a star at the time but...
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president obama takes to the road today to pitch his already rejected deal to solve the fiscal cliff. he will be traveling to pennsylvania to push his pitch for tax increases on the wealthy. republicans say the campaign-style tactics are getting in the way of productive talks. more companies are announcing special dividends in anticipation of higher tax rates after the new year. whole foods announced a $2 a share special dividend. also declaring one-time payouts, regal entertainment ends on pharmaceuticals and intel labs among other companies. >>> the german parliament has given its approval to the greek debt deal approved by european finance ministers earlier this week. that means that greece can receive about $57 billion in rescue loans. >>>. >> our guest host today is with us trying to rise above and fix the debt. larry, former chairman and ceo of honeywell. one of our favorite guest hosts. you come about once every quarter, larry. >> i do. >> once a quarter. and -- i don't know. last quarter was -- seems like 10, 15 years ago at this point. doesn't it? >> it does to you. to me it
president obama takes to the road today to pitch his already rejected deal to solve the fiscal cliff. he will be traveling to pennsylvania to push his pitch for tax increases on the wealthy. republicans say the campaign-style tactics are getting in the way of productive talks. more companies are announcing special dividends in anticipation of higher tax rates after the new year. whole foods announced a $2 a share special dividend. also declaring one-time payouts, regal entertainment ends on...
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with the fiscal cliff, and our long term deficit challenges. we have yet to see even an acknowledgement of republican leaders of the fact that there is no deal that does not include rates going up on top earners. as the president said in the interview you cited and said before, he doesn't hold the position because it's inherently good orments to punish wealthy americans, but holds it because it's mathematically sound. it's an absolute fact there's no way to achieve balance in a broad deficit reduction package, a balance that requires significant revenues without rates going up on top earners. you cannot achieve it through promised closing of loopholes or capping of deductions, and you certainly can't achieve it through the kind of vague proposal that we see from republicans which contains no specificity whatsoever, not a single deduction named or loophole identified to be close so rates have to go up. the president believes that, and it's part of the proposal that his team put forward to congress that we need to have a frame work here that envi
with the fiscal cliff, and our long term deficit challenges. we have yet to see even an acknowledgement of republican leaders of the fact that there is no deal that does not include rates going up on top earners. as the president said in the interview you cited and said before, he doesn't hold the position because it's inherently good orments to punish wealthy americans, but holds it because it's mathematically sound. it's an absolute fact there's no way to achieve balance in a broad deficit...
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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you had to deal with the bad republican hand on the fiscal cliff now for better part of a month. this is something to look forward to. that you have two republicans leading the party of this stature and capability. who are movement conservatives in the sense they're both intellectuals. to get these issues viscerally this is something to put you in a good mood. >> bret: rubio talked about the middle class. ryan talked about lifting people out of poverty. different messages than we heard on the campaign trail this past year. >> rub row also seemed to be sort of disagreeing with mitt romney's argument a little bit. the 47% people who just want hand-outs. kind of a thing. which he disagreed with before. it's interesting because i think it's reprehensible message. i also, i wonder where jeb bush fits in to this also. i can't speak to that since i'm not a conservative but i think he would be one of leading contenders along with these two gentlemen. >> charles? >> i share steve's optimism. we are looking at the future of the party. generational change. the goldwater republicans and the
you had to deal with the bad republican hand on the fiscal cliff now for better part of a month. this is something to look forward to. that you have two republicans leading the party of this stature and capability. who are movement conservatives in the sense they're both intellectuals. to get these issues viscerally this is something to put you in a good mood. >> bret: rubio talked about the middle class. ryan talked about lifting people out of poverty. different messages than we heard on...
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>>host: has part of our series looking at the fiscal cliffs we look at different aspects today we turn our attention to the amt and the patch that could work out a deal if they do nothing it will affect 30 million americans. john buckley thank you for being here. what is the alternative minimum tax? >>guest: you pay the greater of the regular income tax or under the minimum tax that has the broader-based to disallow those deductions. >> in some respects it is similar to the itemize deductions rather than directly attack it puts the overall cap there is no new ideas it bears a strong relationship. >>host: here's the form for the 2011 tax preparation the alternative minimum taxes you fall into it? how do you know, ? >> i believe you could only do this with computer programs like tax prepares if fried did not have that i do believe that at&t would have been killed along time ago if people really had to do that to figure out the details there would be a strong revolt against the complexity. it is extremely burdensome if you try to do it without preparation. >>host: give us the history. >>g
>>host: has part of our series looking at the fiscal cliffs we look at different aspects today we turn our attention to the amt and the patch that could work out a deal if they do nothing it will affect 30 million americans. john buckley thank you for being here. what is the alternative minimum tax? >>guest: you pay the greater of the regular income tax or under the minimum tax that has the broader-based to disallow those deductions. >> in some respects it is similar to the...
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taxes will go up for nearly every american in less than a month if there's no deal on that looming fiscal cliff. >> but even with that threat looming, lawmakers are still very far apart on their way to rein in government. there are differences on full display for all of us to see over the weekend. here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this country with those low rates in place for future generations. those rates have to go up. >> reporter: but republicans have drawn a line in the sand in raising tax rates. instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowher
taxes will go up for nearly every american in less than a month if there's no deal on that looming fiscal cliff. >> but even with that threat looming, lawmakers are still very far apart on their way to rein in government. there are differences on full display for all of us to see over the weekend. here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was...
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. >>> and now, the big deadline on the fiscal cliff, 34 days left for congress to make a deal, which will prevent taxes from rising on everyone. including the middle class. and all day, americans around the country were sending a message, telling washington to get to work and get a job done. here's abc's senior white house correspondent jake tapper with the story. >> reporter: president obama today continued his public relations push, surrounding himself with supporters who wrote the white house, saying they do not want to see a tax increase on the middle class. it's all part of a move to rachet up pressure on republicans in congress to reach a deal before the nation goes off the so-called fiscal cliff, which would increase taxes for the average family by $2,200. >> that means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition. >> reporter: but house republicans will not relent on their opposition to any plan that would raise taxes on the wealthy. >> you're not goin
. >>> and now, the big deadline on the fiscal cliff, 34 days left for congress to make a deal, which will prevent taxes from rising on everyone. including the middle class. and all day, americans around the country were sending a message, telling washington to get to work and get a job done. here's abc's senior white house correspondent jake tapper with the story. >> reporter: president obama today continued his public relations push, surrounding himself with supporters who wrote...
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that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i
that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and...
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that would avoid a fiscal crisis at the end of the year. that fiscal cliff we talk about. the nasdaq just 24. the s&p 500 rose roughly 11 for it. the future of the dollar bill will be the topic of discussion on capitol hill today. the government accountability office will again try to convince the u.s. by switching from bills to more durable corns makes more sense. this would be the first time the g l made the change--would not be the first time. dollar bills are considered to be easier and led to carry. >> 507 $9 million power of jackpot winning tickets were sold in missouri and arizona. they matched all six numbers. they have no information on the winter. the will of elsewhere in when it was sold at a news conference today. someone is now million dollars richer during an interview with fortune mayor explain " we literally are moving the company from blackberries to smart phones. one of the really important for ya hoo as strategy is mobile. that is why they are moving forward. >> we will take a quick break we will be back with more headlin
that would avoid a fiscal crisis at the end of the year. that fiscal cliff we talk about. the nasdaq just 24. the s&p 500 rose roughly 11 for it. the future of the dollar bill will be the topic of discussion on capitol hill today. the government accountability office will again try to convince the u.s. by switching from bills to more durable corns makes more sense. this would be the first time the g l made the change--would not be the first time. dollar bills are considered to be easier and...
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more bluster from both sides of the fiscal cliff deal. but is there actually a deal in the making?
more bluster from both sides of the fiscal cliff deal. but is there actually a deal in the making?
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the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy gr
the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual...
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the market interpreted positive statements on a potential deal on the fiscal cliff by house speaker and rebounded from what had been a 112-point slide after the morning's opening bell. the dow jones industrials reversed, as i said, on the speaker's positive remarks and finished the session up 107 points. s&p up 11, nasdaq gained 24. all ten s&p 500 sectors moved higher on the day. that is the first time it has happened since october 4th. retailers drove the consumer discretionary sector energy industrials lead in the wake, and the rally started just minutes before house speaker made it clear that republicans are willing to deal on revenue and ready to find a resolution now >> we all know that we have had this spending crisis coming at like a eight train. it mst be dealt with. and in order to try to come to an agreement, republicans are willing to put revenue on the table, but it is time for the president and democrats to get serious about the spending problem that our country has. i am optimistic that we can continue to work together to avert this crisis sooner rather than later. lou: m
the market interpreted positive statements on a potential deal on the fiscal cliff by house speaker and rebounded from what had been a 112-point slide after the morning's opening bell. the dow jones industrials reversed, as i said, on the speaker's positive remarks and finished the session up 107 points. s&p up 11, nasdaq gained 24. all ten s&p 500 sectors moved higher on the day. that is the first time it has happened since october 4th. retailers drove the consumer discretionary sector...
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in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the worst stretch of storms that northern california has seen really in about two years. another punch today then we'll set up for a dry trend. the good news is that it has been dry so the ground, even though we've seen a lot of major flooding, the ground has absorbed a fair amount of it. seattle to portland, rain right now. snow at the highest elevations, and the rain will eventually push down into san francisco and sacramento later on today. this system is actually messing up the atmosphere and creating a lot of warmth across much of the country. if you live anywhere east of the rockies, actually anywhere east of the
in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the...
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of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you notice that that's how this stuff is coming out. it's not phone calls between the two sides or closed-door meetings. we don't know what spending democrats would cut and we haven't even begun the entitlements discussion, which the president is theoretically open to. so there's a lot that still needs to happen. i mean for you and me and normal people, three weeks away may seem like a short time, but there's a feeling that this has barely even begun. >> here's senator bob corker and clairk mccaskill. here it is. >> great detail, very painful cuts to me
of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you...
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the fiscal cliff. everybody says it's going to be an economic catastrophe if we do. an average of $2,200 in extra taxes next year for the average american family. the president has undergone a campaign style series of events. he's had ceos marching up and down the driveway here. he's got a twitter campaign. yesterday he was out in suburban philadelphia asking con stitch wa -- constituents to write in, call, do whatever they need to do to get in touch with those republicans in the house of representatives, try to get them to turn their votes. the president put his first proposal on capitol hill last week. it had $1.6 trillion in new revenues. about half of it coming from ending tax cuts for the wealthy, something that he campaigned on. there are about $600 billion in cuts in domestic programs like medicare. it was greated with gails of laughter by the senate republican leader. here's what the president and the speaker of the house had to say about it yesterday. >> i don't think it's acceptable to you fo
the fiscal cliff. everybody says it's going to be an economic catastrophe if we do. an average of $2,200 in extra taxes next year for the average american family. the president has undergone a campaign style series of events. he's had ceos marching up and down the driveway here. he's got a twitter campaign. yesterday he was out in suburban philadelphia asking con stitch wa -- constituents to write in, call, do whatever they need to do to get in touch with those republicans in the house of...
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now, the 4th quarter is likely to be impacted by sandy and also from "fiscal cliff" worries. as far as the "fiscal cliff" goes, politico is reporting this morning that there is a framework for a deal in place that would include $1.2 trillion in tax increases and $400 billion in entitlement cuts on medicare. wall street watching that closely. let's look at the numbers. the dow is up by 45 points after gaining more than 100 yesterday. it's back over 13,000. nasdaq higher by 19. s&p right now is up by 6 points. back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> well, starbucks is rolled out its most expensive coffee ever and it's a doozy. the new brew made from very rare costa rica beans called finca palmilera just rolls off the tongue, retails for $7 a cup! that's for a grande. for $6 you can get the tall. right now the big ticket brew is only available at a few dozen stores in the pacific northwest. starbucks plans to take it nationwide by the end of the year. it better be the only one you need all week. seven bucks! >>> lindsay lohan mobbed again by
now, the 4th quarter is likely to be impacted by sandy and also from "fiscal cliff" worries. as far as the "fiscal cliff" goes, politico is reporting this morning that there is a framework for a deal in place that would include $1.2 trillion in tax increases and $400 billion in entitlement cuts on medicare. wall street watching that closely. let's look at the numbers. the dow is up by 45 points after gaining more than 100 yesterday. it's back over 13,000. nasdaq higher by...
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on the fiscal cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying those other ways are not enough. his campaign message that the top earners have to pay more, he is sticking to that line many these negotiations. >> jess, do we know how the republicans responded to this red line? >> well, speaker boehner was frustrated, wrovl, and came out with -- in his press conference today basically accusing the president of not leading on the issue. both sides are calling for the white house to come forward with spending cuts first, tell us where you are going to cut spending, before we, the republicans, will say whether we'll go along with you on ta
on the fiscal cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying...